Globalisation, the fusion of a nation's economy with the world, unites markets for goods, finance, and labor.
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In economic literature, globalisation is synonymous with an reducing import tariffs, and minimizing restrictions.
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In 1991, facing economic crises, India turned to the IMF and World Bank for assistance.
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Stabilisation, focusing on controlling inflation and trade deficits, and Structural Adjustment.
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Globalisation in India impacted consumers positively with greater choice and lower prices.
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Globalisation creates jobs, offers educational opportunities, reduces poverty.
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However, globalisation isn't without challenges. It redistributes economic power, poses threats to small industries.
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Technological changes brought by globalisation have mixed outcomes on employment.
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Globalisation's impact extends beyond economics, influencing issues like human trafficking.
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globalisation weaves countries into a complex economic tapestry, offering opportunities and challenges.
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